Rodedawg (OTC: RWGI) Expands into Dispensary Acquisitions and Signs Letter of Intent for Dispensary License
Rodedawg International Industries (OTC: RWGI) has signed a Letter of Intent (LOI) to acquire a dispensary license in Costa Mesa, California, marking a significant expansion into retail dispensary markets. The Costa Mesa dispensary, compliant with state regulations, is strategically located to serve high-density and affluent areas, potentially generating $5 million to $7 million in annual revenue. CEO Chris Swartz highlighted the low capital entry due to seller financing for Tenant Improvements (TIs). This move aligns with RWGI's goals to enhance brand presence and grow through low-cost acquisitions, reinforcing their commitment to quality and customer satisfaction.
- Signed LOI for dispensary license acquisition in Costa Mesa, CA, showing strategic market expansion.
- Expected annual revenue between $5 million and $7 million from the Costa Mesa dispensary.
- Strategic location in a high-density, affluent area enhances visibility and customer reach.
- Seller financing for Tenant Improvements (TIs) minimizes initial capital investment.
- Alignment with RWGI's corporate roadmap for growth through low-cost acquisitions.
- Provides a proprietary location for Rodedawg branded products, enhancing brand presence.
- Serves a large, growing customer base in a key market, potentially increasing market share.
- Commitment to delivering high-quality products and exceptional service.
- No specific details on the financial terms of the acquisition beyond seller financing are provided.
- Potential challenges in integrating the new dispensary into existing operations.
- Uncertainty around the exact timeline for completion and opening of the dispensary.
Company Moves into Retail Dispensary Markets for Proprietary Branding & Strengthening Distribution
COSTA MESA, Calif., June 06, 2024 (GLOBE NEWSWIRE) -- Rodedawg International Industries, Inc. (OTC: RWGI) is proud to announce a significant strategic move including signing a Letter of Intent (LOI) for the dispensary's license acquisition, further solidifying RWGI's presence in the burgeoning cannabis market. The Costa Mesa dispensary is licensed and registered with the state of California, ensuring compliance with all state regulations and standards. This acquisition aligns with RWGI's strategic goals of expanding its footprint and enhancing its brand presence in the competitive cannabis industry.
Located in the heart of Orange County, the Costa Mesa dispensary is situated in a high-density area, ensuring maximum visibility and accessibility. The strategic location in west side Costa Mesa serves the affluent communities of Newport Beach and Huntington Beach - both cities where cannabis licenses are still not allowed. This prime location is expected to generate annual revenues between
"This acquisition represents a major step forward for Rodedawg International Industries," said Chris Swartz, CEO, of RWGI. "The terms of the LOI include seller financing for the remaining Tenant Improvements (TI’s) so this acquisition has low capital needs for entry. Not only does it provide a proprietary location for our Rodedawg brands, but it also allows us to serve a large and growing customer base in a key market while proving our business model to grow through low cost acquisitions as per our Corporate Roadmap."
Rodedawg International Industries is committed to delivering high-quality cannabis products and exceptional service to its customers. The new dispensary will feature a wide range of Rodedawg branded products, offering customers a unique and reliable source for their cannabis needs.
As RWGI continues to grow, the company remains dedicated to innovation, quality, and customer satisfaction. This latest acquisition is a testament to RWGI's ongoing efforts to expand its market share and deliver value to its stakeholders.
About Rodedawg International Industries, Inc.
Rodedawg International Industries, Inc. (OTC: RWGI) is focused on providing management services, acquisitions and restructuring resources throughout the regulated California cannabis market. We are a trusted partner and asset to licensed cultivation, distributors, manufacturers, and retail dispensaries.
Please note the company's Twitter address is https://twitter.com/RWGImerger for regular updates.
About Nutrient CBD
Rodedawg International Industries, Inc. has launched Nutrient CBD, featuring five new products: CBD Oil Tincture, CBD Roll-On, and CBD Pain Cream. The CBD Oil Tincture combines
Nutrient CBD website: www.NutrientCBD.com
About Budding Horizon, LLC
Budding Horizon, LLC is a California Limited Liability Company with offices in Orange County, California. The company is focused to providing management services for the licensed cannabis industry and seeks to leverage its expertise in the real estate acquisitions to acquire and develop a portfolio of assets.
The company website is https://buddinghorizon.com/
About Brother Buds™
Brother Buds is a cannabis delivery service based in Costa Mesa, California. During the month of July 2023, Rodedawg will operate Brother Buds under a non-storefront cannabis delivery license. The cannabis delivery service will focus on Los Angeles County, Orange County, and norther San Diego County in the demographic area of 23.86 million in 2019. The company is focused to providing management services for the licensed cannabis industry and seeks to leverage its expertise in the real estate acquisitions to acquire and develop a portfolio of assets.
The company website is: https://BrotherBuds.com
Make sure to follow us at: https://twitter.com/BrotherBudsOC
About Elixicure
Elixicure is a leading provider of manufacturing and capsule encapsulation services. We offer a wide range of services to meet the diverse needs of our clients, including capsule encapsulation, formulation, manufacturing, labeling and bottle filling. Our state-of-the-art facilities and experienced team of professionals allow us to deliver high-quality products and exceptional customer service. Whether you are looking for small-scale or large-scale production, we have the expertise and capabilities to meet your needs. Contact us today to learn more about how we can support your manufacturing and encapsulation needs.
The company website is: https://elixicure.com/
Make sure to follow us at: https://twitter.com/Elixicure
Contact Information:
Rodedawg International Industries, Inc.
1-800-793-0355
ir@buddinghorizon.com
Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Rodedawg International Industries, Inc.
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FAQ
What is the significance of RWGI acquiring a dispensary license in Costa Mesa?
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How does the location of the Costa Mesa dispensary benefit RWGI?
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